Nomura Asset Management Co. Ltd. lifted its holdings in shares of Republic Services, Inc. (NYSE:RSG – Free Report) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 81,950 shares of the business services provider’s stock after acquiring an additional 3,178 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Republic Services were worth $17,368,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in shares of Republic Services during the 4th quarter worth about $25,000. Wealth Watch Advisors INC bought a new position in shares of Republic Services during the 3rd quarter worth about $26,000. Ameriflex Group Inc. bought a new position in shares of Republic Services during the 3rd quarter worth about $29,000. Sound Income Strategies LLC bought a new position in shares of Republic Services during the 4th quarter worth about $32,000. Finally, Westside Investment Management Inc. lifted its holdings in shares of Republic Services by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 172 shares of the business services provider’s stock worth $39,000 after acquiring an additional 86 shares during the period. 57.73% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Republic Services from $240.00 to $223.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Argus cut shares of Republic Services from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Barclays increased their target price on shares of Republic Services from $227.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Robert W. Baird dropped their target price on shares of Republic Services from $242.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Finally, Citigroup dropped their target price on shares of Republic Services from $253.00 to $247.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $245.15.
Republic Services Trading Up 0.3%
RSG opened at $201.45 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $61.98 billion, a PE ratio of 28.90, a PEG ratio of 3.30 and a beta of 0.41. Republic Services, Inc. has a 1-year low of $196.41 and a 1-year high of $258.75. The firm has a 50-day moving average price of $210.67 and a two-hundred day moving average price of $214.83.
Republic Services (NYSE:RSG – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.06. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Republic Services had a net margin of 13.00% and a return on equity of 18.57%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 EPS. As a group, equities analysts anticipate that Republic Services, Inc. will post 7.28 earnings per share for the current fiscal year.
Republic Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, July 2nd. Republic Services’s dividend payout ratio (DPR) is presently 35.87%.
Insiders Place Their Bets
In related news, major shareholder Cascade Investment, L.L.C. acquired 60,700 shares of the stock in a transaction on Monday, May 18th. The stock was purchased at an average price of $213.31 per share, for a total transaction of $12,947,917.00. Following the transaction, the insider owned 110,803,982 shares of the company’s stock, valued at $23,635,597,400.42. The trade was a 0.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 987,150 shares of company stock valued at $202,366,682. Company insiders own 0.12% of the company’s stock.
Republic Services Company Profile
Republic Services, Inc is a leading provider of non-hazardous solid waste and recycling services in the United States. The company offers a broad range of waste management solutions to residential, commercial, industrial and municipal customers, positioning itself as a full-service partner for everyday waste collection as well as specialized disposal needs.
Republic’s core operations include curbside and commercial collection, transfer and hauling, materials recovery and recycling facilities, and landfill disposal.
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